Forsta AP Fonden Reduces Stock Holdings in ResMed Inc. $RMD

Forsta AP Fonden cut its holdings in ResMed Inc. (NYSE:RMD) by 8.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 50,200 shares of the medical equipment provider’s stock after selling 4,800 shares during the quarter. Forsta AP Fonden’s holdings in ResMed were worth $12,952,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. KBC Group NV increased its holdings in shares of ResMed by 4.3% during the second quarter. KBC Group NV now owns 49,124 shares of the medical equipment provider’s stock valued at $12,674,000 after acquiring an additional 2,006 shares in the last quarter. National Pension Service boosted its stake in ResMed by 0.7% in the 2nd quarter. National Pension Service now owns 232,873 shares of the medical equipment provider’s stock worth $60,081,000 after purchasing an additional 1,652 shares in the last quarter. Advyzon Investment Management LLC purchased a new stake in ResMed during the 2nd quarter worth approximately $203,000. Vise Technologies Inc. acquired a new position in ResMed during the 2nd quarter valued at approximately $553,000. Finally, Allworth Financial LP increased its stake in ResMed by 53.0% during the 2nd quarter. Allworth Financial LP now owns 1,082 shares of the medical equipment provider’s stock valued at $279,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RMD shares. William Blair raised shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada raised their price objective on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Morgan Stanley set a $305.00 target price on ResMed in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $297.45.

Insider Buying and Selling

In related news, Director John Hernandez sold 2,575 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at $116,849,533.50. The trade was a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,695 shares of company stock valued at $5,032,811. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Up 0.1%

Shares of RMD opened at $252.58 on Thursday. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock’s 50-day moving average price is $267.36 and its 200-day moving average price is $262.80. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.20 earnings per share. ResMed’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.